[ Memo ]  [ 5-Year & 13-Month Comparisons ]

Memo

DATE: November 5, 2002
TO: Mayor, City Council
FROM: Barbara Christensen, City Recorder/Treasurer
RE: First Quarter Investment Report for Fiscal Year 2002-03

It is the policy of the City of Ashland to invest public funds in a manner which will provide the highest investment return with the maximum security. Daily cash flow demands for the city are considered when investing, and conformance to all state and local statutes governing the investment of public funds. The primary objectives are safety, liquidity, and return on investments

The investment policy applies to activities of the City of Ashland and Ashland Parks & Recreation in regards to investing the financial assets of all funds except for funds held in trust for deferred compensation funds for the employees of the City of Ashland. In addition, funds held by trustees or fiscal agents are excluded from these rules; however, all funds are subject to regulations established by the State of Oregon.

Performance standards, or "benchmarks" used to determine whether market yields are being achieved, are the six-month U.S. Treasury Bill and the Oregon Local Government Investment Pool (LGIP) using the monthly net yield.

As of September 30, 2002:
Portfolio for the City of Ashland:	$22,860,097.28
LGIP yield rate:	2.0000%
Portfolio yield excluding pool rate:	2.5917%
Combined earnings rate:	2.0728%

Attached are two Investment Comparisons graphs, a Five-Year Comparison and a Thirteen-Month Comparison, which indicate the Net Earnings Rate for the City of Ashland.

5-Year_&_13-Month_Comparisons.pdf (81.2KB)

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